A game that makes children believe in a world of fantasy where battleships, thimbles, and hats are sentient and can own property. On the plus side, it raises the children to be investors and big-buisness types, which may not be on the plus side according to your views.

Monopoly made the child grow up to be a CEO who also thought he was a car.

1) When a single institution becomes so powerful, that it has total control over a certain commodity, service or industry. This can't actually exist, because it can't ever be truly 100%. At least, not until we live in a futurisitic dystopia where the government/corporations/intelligent computers/big-headed aliens use mind control, rayguns and/or the Matrix to enforce control.

An example of an "Almost-monopoly" is Microsoft, who many people say have a monopoly of the Desktop PC Operating System market. This isn't true, as a small percentage of people use Macs or Linux PC's. Hell, you can even use FreeBSD as a desktop system.

2) A family game where people play shoes, irons and cowboy hats masquerading as CEO's vying for economic world domination. Based largely on luck, but skill/know-how can also be used, as is proved by a sad person I know who spent his young life getting good at the game so that, for once, he would be better than others at something. Usually, however, the game degenerates into petty fights and shouting matches.

A monopolist maximizes profit by producing a little less than the market equilibrium, driving up the price of the good. This creates a deadweight loss to society, (some mutually beneficial transactions are forgone), which is why a monopoly is discouraged or illegal in many parts of the world.

A local natural gas company would be an example of a monopoly caused by economies of scale.